Tuesday, April 17, 2007

AppForge sells assets; firm owes $1.8 million

http://atlanta.bizjournals.com/atlanta/stories/2007/04/16/newscolumn6.html?jst=pn_pn_lk

AppForge sells assets; firm owes $1.8 million

Atlanta Business Chronicle - April 13, 2007
by Justin Rubner

Details have emerged about the fate of software-maker AppForge Inc.
The company, which unexpectedly shut its doors in mid-March, has sold its assets to Atlanta-based Hays Financial Consulting LLC, a firm that manages distressed, insolvent and bankrupt companies. AppForge, which developed software for PDAs and other mobile devices, filed an "assignment for the benefit of creditors," a quasi-bankruptcy that assigns all assets to the management company with the intent of paying off creditors as quickly as possible so shareholders can get something as well.